Pitti Group Wealth Management LLC Has $255,000 Position in The Sherwin-Williams Company (NYSE:SHW)

Pitti Group Wealth Management LLC cut its position in The Sherwin-Williams Company (NYSE:SHW) by 21.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 751 shares of the specialty chemicals company’s stock after selling 210 shares during the period. Pitti Group Wealth Management LLC’s holdings in Sherwin-Williams were worth $255,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC acquired a new position in shares of Sherwin-Williams during the fourth quarter worth approximately $26,000. FSA Wealth Management LLC acquired a new position in shares of Sherwin-Williams in the third quarter valued at approximately $32,000. Sierra Ocean LLC acquired a new position in shares of Sherwin-Williams in the fourth quarter valued at approximately $36,000. True Wealth Design LLC boosted its holdings in shares of Sherwin-Williams by 1,000.0% in the third quarter. True Wealth Design LLC now owns 99 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 90 shares during the period. Finally, WR Wealth Planners LLC boosted its holdings in Sherwin-Williams by 41.7% during the fourth quarter. WR Wealth Planners LLC now owns 119 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 35 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sherwin-Williams

In other Sherwin-Williams news, insider Colin M. Davie sold 2,799 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $360.30, for a total transaction of $1,008,479.70. Following the completion of the transaction, the insider now owns 5,365 shares of the company’s stock, valued at approximately $1,933,009.50. This trade represents a 34.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.60% of the stock is currently owned by company insiders.

Sherwin-Williams Price Performance

NYSE SHW opened at $341.99 on Monday. The firm’s 50-day simple moving average is $353.85 and its two-hundred day simple moving average is $365.62. The Sherwin-Williams Company has a 52 week low of $282.09 and a 52 week high of $400.42. The company has a market cap of $86.01 billion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 2.98 and a beta of 1.23. The company has a quick ratio of 0.46, a current ratio of 0.79 and a debt-to-equity ratio of 2.02.

Sherwin-Williams (NYSE:SHW) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.02. Sherwin-Williams had a net margin of 11.61% and a return on equity of 74.50%. During the same period in the previous year, the business earned $1.81 EPS. Research analysts predict that The Sherwin-Williams Company will post 12 earnings per share for the current year.

Sherwin-Williams Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.79 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $3.16 annualized dividend and a yield of 0.92%. This is a boost from Sherwin-Williams’s previous quarterly dividend of $0.72. Sherwin-Williams’s payout ratio is 29.95%.

Wall Street Analyst Weigh In

Several research analysts recently commented on SHW shares. Zelman & Associates upgraded shares of Sherwin-Williams to a “strong-buy” rating in a report on Friday, January 17th. JPMorgan Chase & Co. increased their price objective on shares of Sherwin-Williams from $370.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Mizuho decreased their target price on shares of Sherwin-Williams from $435.00 to $408.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Citigroup reissued a “buy” rating and issued a $423.00 target price (up from $418.00) on shares of Sherwin-Williams in a report on Wednesday, February 26th. Finally, StockNews.com downgraded shares of Sherwin-Williams from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $401.13.

About Sherwin-Williams

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.